The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 14, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



SOUTHERN CALIFORNIA NEWS
Printer-friendly Version   Email an Associate
La Quinta Retail Asset Trades for $26.4 Mil

12/12/23

Komar Desert Center a retail center consisting of multiple pad retail buildings shadow-anchored by the only Costco in La Quinta, traded hands in a recent transaction worth $26.4 mil. It was acquired by a private capital investor, completing a 1031 exchange.

The deal was brokered by CBREs Newport Beach Retail Investment Team. Led by Phil Voorhees, the Newport Beach team has closed 1,000 retail investment sale transactions, including 359 anchored shopping centers, 267 strip shopping centers, 356 single-tenant-net-leased (STNL) investments, and a variety of other retail properties, totaling nearly $14.8 bil in value and encompassing over 75 msf throughout the west.

Since 2012, the Retail Investment Team achieved an average of 97% of the list price on 581 closed transactions, amounting to nearly $8.8 bil. The team totals 19 members.

With its 1,000th successful transaction completed, Voorhees is stepping down from CBREs National Retail Partners platform to focus on private capital assets and clients, and personal investments. Voorhees and his longtime partner, John Read, will co-lead the private capital team and expand throughout the region.

Jimmy Slusher will assume leadership of the Newport Beach National Retail Partners team, concentrating on institutional clients and premier retail assets. The Newport Beach NRP team is part of CBREs National Retail Partners platform, a national group covering every region around the country advising real estate investment trusts (REITs), operators, developers and pension fund clients, the institutional cohort targeting larger format retail investments.

Going forward, Slusher will lead National Retail Partners efforts in the region while Voorhees and Read will handle private client opportunities. The two separate teams will be positioned to service a wide variety of retail investment matters across the region.

The teams continue to specialize in portfolio sales, anchored centers, strip centers, single-tenant assets, specialty retail projects, REO and Receivership assets and parcelized disposition strategy opportunities. Based in Orange County, the teams consist of specialists with institutional and private client relationships that leverage institutional quality knowledge and service across unparalleled access to private capital investors and the brokers who represent them, domestically and around the world.






Return to the Archive page


 


 


 


 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media